Buying a Home

I am not an expert; however I do have 6 real-estate licenses, including practicing law from the state of Texas. Everyone needs a roof over their head. Then you have a choice: rent, lease, home a condo, or an apartment.

Advantages of Buying a Home

You can be adequately prepared for the path to home ownership. Your home will be your largest purchase you will ever make. It can be very a complicated confusing, frustrating, and time for you. Let me show you how to make it easy for you, . Let me take the fear out of home buying. Follow these simple steps.

1. Prepare for a Home Ownership

Understanding the increased responsibility that comes with home ownership is extremely important. First analyze your financial situation. Find out how much you can afford to pay each month. Set a budget plan including new expenses that will be added to your regular budget as a home owner.

Second decide how much you can afford before you even meet a lender. You must make this decision. No one can tell you what you can afford. The lender can only tell you if you are qualified against a set of loan guidelines. Decide what you need. Make a list of items you must have as well as list of new features.

You must consider your family, ALWAYS REMEBER LOCATON, affordability and other circumstances. Finding the right home, you need one close to work, schools, churches, shopping areas, hospitals, public transportation, and other items important to you.

2. Searching (Shopping) for a Home

When you are looking to buy first check out the following:

  1. Use the internet, and start searching for the following,
  2. Consider buying a foreclosed home.
  3. Bank repo reprocessed home.
  4. State, County repossessed home.
  5. Contact a reputable real-estate, (Only he/she is licensed by the state)
  6. Get the local new papers, check out home classified section.
  7. Drive around and look for Sale by Owner signs then when you find a seller call and ask questions such as, Why are your selling this property, how long you been living there.

Do you have any mortgages and for how long, or you have clear title. If they have mortgages, ask the seller will you owner finance (find out rate & terms etc.)

When you see a home, look around; get a feel for the area.

Drive by few times including nights. Here you are you find the home according to your likings, it’s all your family needs and in your price ranger, make an offer.

Let me give you an example

Asking price: $300,000

Your first offer: $ 250.000

Wait for few days; seller may come back with an offer of $280.000,

Then make a second offer $ 270,000. If the seller refuses the second offer then make a make 3rd offer of $ 275,000, that’s it if you think it a fair price.

DONE, (make sure have a check with you,) this shows you are a serious buyer. When you are negating do not show any emotions, just be cool.

There is a well written book by real-east mogul, Donald Trump,

You may want get hold of a copy “Art of Negotiating”.

This book will show you how to negotiate with any one like a professional.

“Be cautions about when co-signing,or guaranteeing for a loan for others”